Financial Term

A. Established 30 September 1961.

International Monetary Fund (IMF) the World Bank,

B. Sources (www.oecd.org).

Organization for Economic Cooperation and Development (OECD)

Export Credit as Project FinanceOECD CIRRs(Commercial Interest Reference Rates)

OECD Member, 35 Countries

Ireland,estonia,Austria,Australia,Belgium,Iceland,Poland,Denmark, Germany, France, Finland,Shouth Korea, Luxemburg, Canada,Chech Republic, Netherland,United state, Mexico, Norway, United Kingdom, Chile, Portugal,Japan,Sweden, Switzerland,Slovakia, Turkey,Spain,Greece, New Zeland, Hungary, Israel, Italy

Euribor maturity / rate 08-31-2017 08-30-2017 08-29-2017 08-28-2017 08-25-2017Euribor interest rate - 1 week -0.378 % -0.379 % -0.380 % -0.379 % -0.379 %

Euribor interest rate - 2 weeks -0.377 % -0.377 % -0.379 % -0.378 % -0.376 %

Euribor interest rate - 3 weeks - - - - -

Euribor interest rate - 1 month -0.373 % -0.372 % -0.372 % -0.372 % -0.371 %

Euribor interest rate - 2 months -0.339 % -0.339 % -0.340 % -0.341 % -0.341 %

Euribor interest rate - 3 months -0.329 % -0.330 % -0.330 % -0.329 % -0.329 %

Euribor interest rate - 4 months - - - - -

Euribor interest rate - 5 months - - - - -

Euribor interest rate - 6 months -0.273 % -0.273 % -0.273 % -0.273 % -0.272 %

Euribor interest rate - 7 months - - - - -

Euribor interest rate - 8 months - - - - -

Euribor interest rate - 9 months -0.213 % -0.211 % -0.212 % -0.211 % -0.212 %

Euribor interest rate - 10 months - - - - -

Euribor interest rate - 11 months - - - - -

Euribor interest rate - 12 months -0.161 % -0.161 % -0.160 % -0.159 % -0.159 %

Euribor Floating Rate

Commercial Interest Reference Rates (CIRRs)

2

Europe Financial market (FIXED Rate)commercial Interest Reference Rate Cost of Money of Borrower:

Interest +Spread +fees+bank Charge

Tenor >8.5 YrTenor 5 -8.5 YrTenor 5 Yr

OECD CIRRs (OECD term)

Fees ;0.3% p.a

Margin ;0.40 %p.aTenor <15 Yr

Tenor >8.5 Yr :1.03 % paTenor 5 -8.5 Yr: 0.70 % paTenor 5 Yr :0.39 % pa

Negotiable

Under the interest equalisation agreement the financial institution will pay a fixed CIRR rate to FEC and receive a floating rate (normally Euribor or Libor) plus a spread from FEC. According to the decision of the Ministry of Employment and the Economy the interest equalisation maximum spreads to be added to the reference rate are as follows:

Repayment period in years

Credit amounthttps://www.investopedia.com/terms/b/basispoint.asp

under 5M€

5-25 M€ 25-50 M€ over 50M€

5 or under 50 bp 40 bp 35 bp 30 bp

over 5 - 10 50 bp 45 bp 40 bp 40 bp

over 10 50 bp 50 bp 45 bp 40 bp

Under the interest equalisation system a financial institution arranges for its client a fixed CIRR-based export credit. The responsibility of funding the transaction lies on the financial institution arranging the credit. An interest equalisation agreement with FEC provides the financial institution a hedge, which converts the fixed CIRR-based receivable into a floating rate receivable.

FEC : Euro<10 year=1.03-0.272+0.4%

Finnvera : 0.3%Bank Charges :

1.458 % +Bank Charges

https://www.finnvera.fi/eng/export/export-credits-and-interest-equalisation/interest-equalisation

3

3% Debt rate for NON OECD countries shall be acceptable

Euro down 21% from $US from 2011

JPY and IDR down 33 % from $US from 2011

1USD=0.934405 Euro from 20111USD=0.741620 Euro from 2016

1USD=9024 IDR from 20111USD=13471 IDR from 2016

1

1usd=0.741620 Euro, 2011

http://fxtop.com/en/historical-exchange-rates.php?A=1&C1=USD&C2=EUR&DD1=&MM1=&YYYY1=&B=1&P=&I=1&DD2=16&MM2=11&YYYY2=2016&btnOK=Go%21

1USD=0.934405 Euro

IPP (state company) (SPC/SPV) EQUITY BASE LOCAL 20% foreign 10%

EPC Local Content

Foreign Bank Credit Export

Principal EPC Import Content

Off-taker

Associated Local bank

IPP pulau pramuka– Jakarta Project Financial flow

Associated paid to EPC local

Foreign Bank send project loan for foreign portion

Inter bank dealing/communication

Associated Bank Paid to Foreign bank

Associated Bank send “project loan “ to IPP

Equipment supply ( Foreign&local)

End user Paid Electricity to associated bank on behalf of Ipp

IPP supply electricity to end user

70% debt, 10year tenor,5% interest

30% debt, 10 year tenor, 5% interest

20 year contract

FINANCIAL FLOW

Group Implementing (steam Turbine)

System implementing

EPC Group FINANCING Group

MATTI MANNERCEO

www.prohoc.if

TAPIO GYLLINGCOO

www.woimacorporation.com

SHAUKAT ALLYCOO

www.danskebank.no

Moody’s: Aa1Standard & Poor’s: AA+owned by the State of Finlandwww.finnvera.fi

Finnish Export Credit Ltd.

2015 Exporter: Konecranes Finland CorporationGuarantee Holder: Deutsche Bank AG, London BranchLender: Finnish Export Credit LtdArrangers: Deutsche Bank AG, London Branch, and Credit Suisse AGBuyer: PT Pelabuhan Indonesia III (Persero)Buyer's country: IndonesiaExported goods/Project: Container handling equipmentGuaranteed amount: Approximately USD 121.2 millionCredit period: 5 yearsProject classification: AEnvironmental and social impact information on project in category A:

• 2015 Exporter: Wärtsilä Finland OyGuarantee Holder: Standard Chartered BankLender: Finnish Export Credit LtdArranger: Standard Chartered BankBuyer: PT Perusahaan Listrik Negara (Persero)Buyer's country: IndonesiaExport transaction/Goods: gas fired generating sets, ancillary equipment and related servicesGuaranteed amount: Approximately EUR 70 millionCredit period: repayment in 12 yearsEnvironmental classification: AEnvironmental impact information on projects in category A:

• 2017Exporter: Wärtsilä Finland Oy, FinlandSuppliers: PT PP and PT Wärtsilä Indonesia, companies incorporated in IndonesiaGuarantee Holder: KfW IPEX-Bank GmbH Arranger: KfW IPEX-Bank GmbH Lender: KfWBuyer and Borrower: PT Perusahaan Listrik Negara (Persero), a company incorporated in Indonesia.Export transaction/Goods: delivery and installation of 16*20V34DF generating sets and ancillary equipment to the 140 MW dual fuel power plant to be constructed and located in Kalimantan Tengah, Indonesia.Country of Export transaction: Indonesia Guaranteed amount: EUR 82.7 million Credit period: 10 yearsProject classification: ASource of environmental and social impact information (projects in category A):Basic information as well as information on environmental and social impacts were published at least 30 days before the guarantee agreement was signed. Date of publication: 8.8.2017

International standards applied in benchmarking: IFC Performance Standards and relevant EHS Guidelines.Contact point: environment (at) finnvera.fiInformation published: 9 October 2017

• 2016 Exporter: Wärtsilä Finland Oy, FinlandSuppliers: PT PP and PT Wärtsilä Indonesia, companies incorporated in IndonesiaGuarantee Holder: Mizuho Bank, LtdArranger: Mizuho Bank, LtdLender: Finnish Export Credit LtdBuyer and Borrower: PT Perusahaan Listrik Negara (Persero), Export transaction/Goods: delivery and installation of 13*20V34DF generating sets, ancillary equipment and related services to the 135 MW Flexicycle power plant to be constructed and located in Lombok, West Nusa Tenggara, Indonesia.Country of Export transaction: IndonesiaGuaranteed amount: EUR 74.3 millionCredit period: 10 yearsProject classification: BEnvironmental and social impact information: Construction of a gas fuelled power plant. Main items of the E&S review were land acquisition, workers’rights and working conditions and impacts to the marine ecosystem.International standards applied in benchmarking: IFC Performance Standards and relevant EHS

EPC (WIOMA Finland)

FEC is the Finnish export credit agency that guarantees the project debtFinnvera is a Finnish development finance company that provides long term risk capital and debt

IPP (Indonesia)

Need one year after signing loan

Shaukat Ally (CEO)farhanfirass@yahoo.comWA +62 813 8181 6165